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Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any new common stock during the year. A total of 600,000 shares of common stock were outstanding. The interest rate on the bond payable was 10%, the income tax rate was 40%, and the dividend per share of common stock was $0.75 last year and $0.40 this year. The market value of the companys common stock at the end of this year was $27. All of the companys sales are on account.

Weller Corporation Comparative Balance Sheet (dollars in thousands)
	This Year	Last Year
Assets
Current assets:
Cash	$ 1,080	$ 1,240
Accounts receivable, net	10,200	7,200
Inventory	13,400	11,500
Prepaid expenses	730	640
Total current assets	25,410	20,580
Property and equipment:
Land	9,400	9,400
Buildings and equipment, net	43,035	37,236
Total property and equipment	52,435	46,636
Total assets	$ 77,845	$ 67,216
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$ 19,100	$ 18,000
Accrued liabilities	1,060	840
Notes payable, short term	270	270
Total current liabilities	20,430	19,110
Long-term liabilities:
Bonds payable	8,900	8,900
Total liabilities	29,330	28,010
Stockholders' equity:
Common stock	600	600
Additional paid-in capital	4,000	4,000
Total paid-in capital	4,600	4,600
Retained earnings	43,915	34,606
Total stockholders' equity	48,515	39,206
Total liabilities and stockholders' equity	$ 77,845	$ 67,216

Weller Corporation Comparative Income Statement and Reconciliation (dollars in thousands)
	This Year	Last Year
Sales	$ 75,690	$ 65,000
Cost of goods sold	41,085	41,000
Gross margin	34,605	24,000
Selling and administrative expenses:
Selling expenses	11,300	10,100
Administrative expenses	6,500	6,900
Total selling and administrative expenses	17,800	17,000
Net operating income	16,805	7,000
Interest expense	890	890
Net income before taxes	15,915	6,110
Income taxes	6,366	2,444
Net income	9,549	3,666
Dividends to common stockholders	240	600
Net income added to retained earnings	9,309	3,066
Beginning retained earnings	34,606	31,540
Ending retained earnings	$ 43,915	$ 34,606

Required:

Compute the following financial data for this year:

1. Accounts receivable turnover. (Assume that all sales are on account.) (Round your answer to 2 decimal places.)

2. Average collection period. (Use 365 days in a year. Round your intermediate calculations and final answer to 2 decimal places.)

3. Inventory turnover. (Round your answer to 2 decimal places.)

4. Average sale period. (Use 365 days in a year. Round your intermediate calculations and final answer to 2 decimal places.)

5. Operating cycle. (Round your intermediate calculations and final answer to 2 decimal places.)

6. Total asset turnover. (Round your answer to 2 decimal places.)

	1. Accounts receivable turnover 2. Average collection period days 3. Inventory turnover 4. Average sale period days 5. Operating cycle days 6. Total asset turnover

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